The market bounced last week, after some heavy selling in May. We had a really nice week with most of our trades on the winning side. We even caught a quick dip from Thursday afternoon to Friday morning with some GOOG and GLD puts, giving us some nice overnight gains to wrap up the week. Notable trades were: CREE puts +156%, NOV calls +103%, SWKS calls +93%, CME calls +95%, WYNN calls +81%, and DLTR calls +67%. Here are the closed trades:
Over the weekend, euro zone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) to help its battered banks. We’ll find out more details as the new week goes.
I’ll be back tonight to take a closer look at the financial markets in my weekly Market Forecast.
Happy Sunday and HappyTrading! ™